Govt. Introduces New Housing Credit/Financing Scheme for Low-Income Citizens

In order to accelerate the accessibility of housing facilities for low-income citizens (Masyarakat Berpenghasilan Rendah– “ MBR ”), the Ministry of Public Works and Public Housing (“ Ministry ”) has issued Regulation No. 18/PRT/M/2017 on Savings-Based Housing Financing Facilities (“ Regulation 18/2017 ”). [1] Regulation 18/2017 sets out a set of detailed guidelines for government and banks as regards the organization of Savings-Based Housing Financing Facilities (Bantuan Pembiayaan Perumahan Berbasis Tabungan– “ BP2BT ”) for MBR. These guidelines cover encompass: